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  • FIRST POST
    • Wslater79
    • By Wslater79 30th Nov 17, 7:53 PM
    • 5Posts
    • 1Thanks
    Wslater79
    PPI Reclaim Companies MISS SELLING
    • #1
    • 30th Nov 17, 7:53 PM
    PPI Reclaim Companies MISS SELLING 30th Nov 17 at 7:53 PM
    Ok here goes.....

    So I was contacted by phone from a PPI Reclaim company! I was told they would act on my behalf and that there fees were 35% IF the claim was successful, they told me that all I have to do is sign the document and send them back, which I did.

    So this week I get a successful claim and receive a £1600, cheque. But when I told the company this they said there fees were 35% plus VAT which was a shock as that is now 42% of my claim.

    I was then invoiced for £1800 and out of that £791 was their fee costs. I called them to explain that i only received 1600 they confirmed that they go by the gross amount again I was shocked ! Apparently I was deducted 20% income tax off the claim which resulted in me greeting £1600 rather than £1800.

    So you can imagine I'm vet upset and feel I have been treated un fairly, I mean a PPI company miss selling there services to reclaim back your PPI, So out of a chq for £1600 I get £900 because of the hidden VAT costs and Gross amount that they failed to tell and explain to me.

    I have told them if i was told on the very first phone call that it was 35% + VAT of the GROSS amount then I would have said no, and they wouldn't have had the chance to send the documents, out to me. I have other claims going through which i have said i want to cancel as i feel ive been miss sold and the cancellation cost of each one is £145+vat.

    So can I take this further to the financial ombudsmen despite me having signed the T&Cs

    This makes me sick! I'm a vulnerable single mum with depression and this has made me relapse!

    Please HELP thank you for reading
Page 1
    • IAmWales
    • By IAmWales 30th Nov 17, 7:58 PM
    • 1,853 Posts
    • 3,842 Thanks
    IAmWales
    • #2
    • 30th Nov 17, 7:58 PM
    • #2
    • 30th Nov 17, 7:58 PM
    Did you bother to read the document you signed?

    I have told them if i was told on the very first phone call that it was 35% + VAT of the GROSS amount then I would have said no,
    Difficult to believe when you would willingly pay 35% for something you could have done yourself.

    You can complain to whomever you wish. You will not be successful if your complaint is down to your failure to read what you were signing.
    • Moneyineptitude
    • By Moneyineptitude 30th Nov 17, 8:08 PM
    • 18,904 Posts
    • 10,122 Thanks
    Moneyineptitude
    • #3
    • 30th Nov 17, 8:08 PM
    • #3
    • 30th Nov 17, 8:08 PM
    So out of a chq for £1600 I get £900 because of the hidden VAT costs and Gross amount that they failed to tell and explain to me.
    Originally posted by Wslater79
    Since VAT is not part of their fees (the tax goes to the government) I can't see how you can complain that you were "mis-sold". Where was the tax "hidden"?

    The Financial Ombudsman has no jurisdiction here, that would be the LEGAL Ombudsman.

    As stated, though, you were not mis-sold and neither were the company's fees mis-represented. You should have read and clarified (if unsure) exactly what you would be charged prior to signing up with them..

    I'm a vulnerable single mum with depression and this has made me relapse!
    Originally posted by Wslater79
    That's not a valid complaint I'm afraid.
    • zx81
    • By zx81 30th Nov 17, 8:13 PM
    • 14,389 Posts
    • 15,184 Thanks
    zx81
    • #4
    • 30th Nov 17, 8:13 PM
    • #4
    • 30th Nov 17, 8:13 PM
    On a positive note, you saved the cost of a stamp to post the complaint yourself.
    • Wslater79
    • By Wslater79 30th Nov 17, 8:16 PM
    • 5 Posts
    • 1 Thanks
    Wslater79
    • #5
    • 30th Nov 17, 8:16 PM
    • #5
    • 30th Nov 17, 8:16 PM
    Willing to pay 35% of the final claim not 35+VAT on the gross amount which no one would ever receive
    • zx81
    • By zx81 30th Nov 17, 8:18 PM
    • 14,389 Posts
    • 15,184 Thanks
    zx81
    • #6
    • 30th Nov 17, 8:18 PM
    • #6
    • 30th Nov 17, 8:18 PM
    Some people will receive the gross amount.

    It's reduced by income tax, remember.
    • Moneyineptitude
    • By Moneyineptitude 30th Nov 17, 8:19 PM
    • 18,904 Posts
    • 10,122 Thanks
    Moneyineptitude
    • #7
    • 30th Nov 17, 8:19 PM
    • #7
    • 30th Nov 17, 8:19 PM
    Willing to pay 35% of the final claim not 35+VAT on the gross amount which no one would ever receive
    Originally posted by Wslater79
    You won't get away with not also paying the tax.

    Failure to pay in full will see them set debt collectors on you and ultimately they will take you to court.
    • Wslater79
    • By Wslater79 30th Nov 17, 8:23 PM
    • 5 Posts
    • 1 Thanks
    Wslater79
    • #8
    • 30th Nov 17, 8:23 PM
    • #8
    • 30th Nov 17, 8:23 PM
    How can you receive the gross amount if 20% is deducted no one will ever receive the gross amount in terms of money
    • BoGoF
    • By BoGoF 30th Nov 17, 8:23 PM
    • 2,726 Posts
    • 1,963 Thanks
    BoGoF
    • #9
    • 30th Nov 17, 8:23 PM
    • #9
    • 30th Nov 17, 8:23 PM
    How much of the award was actually interest - you may be able to claim some of the tax deducted from HMRC if you are a non/basic rate taxpayer.
    • zx81
    • By zx81 30th Nov 17, 8:24 PM
    • 14,389 Posts
    • 15,184 Thanks
    zx81
    How can you receive the gross amount if 20% is deducted no one will ever receive the gross amount in terms of money
    Originally posted by Wslater79
    Non tax payers can reclaim the tax, so get the gross amount.
    • Wslater79
    • By Wslater79 30th Nov 17, 8:25 PM
    • 5 Posts
    • 1 Thanks
    Wslater79
    Thick your missing the point here !!
    • Wslater79
    • By Wslater79 30th Nov 17, 8:28 PM
    • 5 Posts
    • 1 Thanks
    Wslater79
    Ok I see what u mean thank u
    • BoGoF
    • By BoGoF 30th Nov 17, 8:29 PM
    • 2,726 Posts
    • 1,963 Thanks
    BoGoF
    Think theres only one person missing the point.

    The one that didnt read what they signed up for.
    • IAmWales
    • By IAmWales 30th Nov 17, 8:29 PM
    • 1,853 Posts
    • 3,842 Thanks
    IAmWales
    Thick your missing the point here !!
    Originally posted by Wslater79
    Unfortunate typo there!

    No one is missing the point. You signed up to a service and failed to read the terms and conditions. You agree that you were happy to pay an extortionate fee (35%), yet claim you would not have agreed to pay a slightly more extortionate fee. Your complaint has no weight.
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